The economic principles regarding taxation in a federal context are re-examined in the context of European tax harmonisation. It is suggested that the concept of subsidiarity could be more helpful in progress towards ...

Emotions are commonly experienced and expressed in human societies; however, their consequences on economic behaviour have received only limited attention. This paper investigates the effects of induced positive and negative ...

We study the role of social identity in determining the impact of social fragmentation on public good provision using laboratory experiments. We find that as long as there is some degree of social fragmentation, increasing ...

We study the role of social identity in determining the impact of social fragmentation on public good provision using laboratory experiments. We find that as long as there is some degree of social fragmentation, increasing ...

We analyze imperfect competition in dynamic environments where firms use rivalrous but nonexcludable industry-specific capital that is provided exogenously. Capital depreciation depends on utilization, so firms influence ...

To study switching behavior, an experiment mimicking the state of a driver on the road was conducted. In each trial participants were given a chance to switch lanes. Despite the fact that lane switching had no sound rational ...

In a Bertrand-oligopoly experiment, firms choose whether or not to engage in cartel-like communication and, if so, they may get fined by a cartel authority. We find that the four-firm industries form cartels more often ...

The objective of the paper is to propose endogenous debt constraints that rule out Ponzi schemes and ensure existence of equilibria in a model with limited commitment and (possible) default. We appropriately modify the ...

We provide an axiomatization of expected equally-distributed equivalent-utility social welfare functions in the context of Harsanyi's impartial observer theorem. For this family of social welfare functions, we show what ...

This paper considers methods of deriving sufficient conditions for the central limit theorem and functional central limit theorem to hold in a broad class of time series processes, including nonlinear processes and ...

We propose a two-stage estimation procedure to identify the effects of time-invariant regressors
in a dynamic version of the Hausman-Taylor model. We first estimate the coeffi-
cients of the time-varying regressors and ...

In this paper I make use of Bayesian methods to estimate a firm-specific capital DSGE model with Calvo price and wage setting. This approach allows me to firmly conclude that firm-specific capital is highly relevant in ...

We conduct experiments testing the relationship between excess capacity and pricing in repeated
Bertrand-Edgeworth duopolies and triopolies. We systematically vary the experimental
markets between small amount of excess ...

This paper investigates, for the first time, the degree of exchange rate pass-through to domestic prices in all five founding members of ASEAN. For this purpose, a three variable recursive VAR model was applied which uses ...

We experimentally investigate the disposition of decision makers to use case-based reasoning as suggested by Hume (An enquiry concerning human understanding, 1748) and formalized by case-based decision theory (Gilboa and ...

We report the experimental results on a game with an outside option where forward
induction contradicts with backward induction based on a focal, risk dominant
equilibrium. The latter procedure yields the equilibrium ...

To understand the mechanisms behind bank run contagions, we conduct bank run experiments in a modified Diamond–Dybvig setup with two banks (Left and Right). The banks׳ liquidity levels are either linked or independent. ...

NOTICE: this is the author’s version of a work that was accepted for publication in International Journal of Industrial Organization. Changes resulting from the publishing process, such as peer review, editing, corrections, ...

In numerous auction settings potential bidders incur costs to enter the auction. Such costs may potentially influence bidder’s behavior subsequently. In this paper we experimentally study the effect of entry costs on bidding ...

We report an experimental test of the influence of ambiguity on behaviour in a coordination game. We study the behaviour of subjects in the presence of ambiguity and attempt to determine whether they prefer to choose an ...